A drastic deterioration has occured in the Iraqi government's fiscal outlook for 2009. The fiscal deficit for 2009 is now forcst at 14.0% of GDP. This compares with a 5.7% surplus in 2008. Oil sales account for over 80% of Baghdad's income and so revenues are declining sharply.
Thursday 16 October 2008
Outlook for iraq deteriorates dramatically
A drastic deterioration has occured in the Iraqi government's fiscal outlook for 2009. The fiscal deficit for 2009 is now forcst at 14.0% of GDP. This compares with a 5.7% surplus in 2008. Oil sales account for over 80% of Baghdad's income and so revenues are declining sharply.
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That's really interesting - do you think that the US will help bail out the government if oil prices really crash? I'm guessing not... Where did you get your figures from? Is that an official government estimate?
Hmm.. good question. The US has its plate full bailing itself out.
Source: Business Monitor International
Herewith a link to website.
Iraq Business Forecast Report Q3 2008
http://www.marketresearch.com/product/display.asp?productid=1793186
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